Cantor Fitzgerald Initiates Coverage on Motorcar Parts of America (NASDAQ:MPAA)

Analysts at Cantor Fitzgerald began coverage on shares of Motorcar Parts of America (NASDAQ:MPAA) in a report released on Friday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $14.00 price target on the auto parts company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 76.99% from the stock’s current price.

Separately, StockNews.com raised Motorcar Parts of America from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

Motorcar Parts of America Price Performance

Shares of NASDAQ:MPAA opened at $7.91 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.39 and a quick ratio of 0.43. Motorcar Parts of America has a 12 month low of $4.36 and a 12 month high of $10.40. The firm has a market capitalization of $157.01 million, a P/E ratio of -2.26 and a beta of 1.53. The company’s fifty day moving average price is $6.70 and its 200 day moving average price is $6.35.

Insider Activity

In related news, Director Bison Capital Partners Vi, L.P purchased 50,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $6.86 per share, with a total value of $343,000.00. Following the completion of the acquisition, the director now directly owns 320,300 shares in the company, valued at $2,197,258. This represents a 18.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Motorcar Parts of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in shares of Motorcar Parts of America in the 3rd quarter valued at approximately $79,000. Privium Fund Management UK Ltd lifted its holdings in shares of Motorcar Parts of America by 22.4% during the second quarter. Privium Fund Management UK Ltd now owns 27,509 shares of the auto parts company’s stock worth $163,000 after purchasing an additional 5,038 shares during the period. Oppenheimer Asset Management Inc. grew its position in Motorcar Parts of America by 24.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,003 shares of the auto parts company’s stock valued at $216,000 after buying an additional 6,979 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Motorcar Parts of America in the 3rd quarter valued at $281,000. Finally, Perritt Capital Management Inc raised its position in Motorcar Parts of America by 6.7% during the 2nd quarter. Perritt Capital Management Inc now owns 78,050 shares of the auto parts company’s stock worth $482,000 after buying an additional 4,867 shares during the last quarter. 83.48% of the stock is owned by hedge funds and other institutional investors.

Motorcar Parts of America Company Profile

Motorcar Parts of America, Inc manufactures, remanufactures, and distributes heavy-duty truck, industrial, marine, and agricultural application replacement parts in the United States. The company offers rotating electrical products, including alternators and starters; wheel hub assemblies and bearings; and brake-related products comprising brake calipers, brake boosters, brake rotors, brake pads, and brake master cylinders.